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For Calendar 2020, Redfern Corporation Reported Pre-Tax Income of $270,000

Question 119

Multiple Choice

For calendar 2020, Redfern Corporation reported pre-tax income of $270,000. You have been made aware that the company's beginning inventory was overstated by $14,000 and ending inventory was understated by $9,000. What is Redfern's corrected pre-tax income for 2020?


A) $270,000
B) $275,000
C) $265,000
D) $293,000

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